Lawrence County Redevelopment Commission Discuss How to Dispose Remaining Marshall Township TIF Fund
LAWRENCE COUNTY - ( April 14, 2022) - The Lawrence County Redevelopment Commission discussed in great detail of how to dispose the remaining amount of Marshall Township TIF funds.
Lawrence County RDC is considering using remaining TIF funds towards AC in the Show Arena at the Lawrence County Fairgrounds
There is a total of $94,962.98 that remain in the Marshall Township Tax Incremental Fund that must be dispensed by May 12, 2022 or it will revert to the County's General Fund.
By placing AC unit in the Show Arena the space could be used for other events other than the 4-H Fair
The Lawrence County Fair Board has requested the funds be used for air conditioning for the Show Arena. The Lawrence County Redevelopment Commission suggesting that $70,000 be used for the AC unit and the Lawrence County Fair Board using $12,000 of its money to be used for electrical upgrades needed for the improvement.
In addition, the Lawrence County Redevelopment Commission suggesting that $24,000 be used for paving certain areas of the fairgrounds and making repairs to the existing paved areas.
County Attorney Dave Smith however, suggested that there will have to be MOU between the Lawrence County Fairgrounds and the RDC. Questions also remain whether the funds must be fully spent by May 12th or whether they could be incumbered to the two mentioned projects. Smith stated that BakerTilly will have to be the consulted on this matter.
A special meeting may have to be called to clear the way for the remaining funds, and sign proper documents.
The Marshall Township TIF district funds had a total of $236,836.72. The RDC funds went to administrative fees and legal fees of the group. The RDC then dispensed funds to the South Central Indiana Sewer District, Marshall Township VFD, and Avoca - Marshall Township Recreation Park.
BakerTilly have completed the TIF Management report for the Lawernce County RDC. BakerTilly will be at the next meeting to advise the other taxing units of the county the impact the TIF will have on them.
In final business, Scott Smith advised the RDC of the conversation with the Mitchell City Council on the proposed Shell building that is proposed in the Mitchell Industrial Park. Shance Sizemore advised the commission this would be an excellent opportunity for the business community that is trying to find space.
The proposed building will be approximately 50,000 square feet.
Discussion was made about 60 acre parcel land for a proposed Residential TIF. Southern Indiana Development Corporation is available to the commission in doing Phase I environmental studies for the area.